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https://electrek.co/2024/08/08/evs-and-phevs-outsell-gas-cars-in-...

  1. Drac
    1,032 Posts.
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    10/08/24
    10:57
    Post #: 75151285
    https://electrek.co/2024/08/08/evs-and-phevs-outsell-gas-cars-in-china-for-the-first-time/

    EVs and PHEVs made up a record half of car sales in China in July, the first time this milestone was achieved in the world’s largest auto market.

    Sales of EVs and PHEVs – what China calls new energy vehicles (NEVs) – jumped 37% year-over-year in July, achieving a record 50.7% of car sales, according to data from the China Passenger Car Association (via ). That’s a rise of 28.6% from June, with a 14.4% jump in EVs.

    The rapid growth in China has been astounding – three years ago, NEV sales accounted for just 7% of total vehicle sales – and government incentives are making a big impact.

    China saw a total of 1.73 million passenger cars (including gas) sold in July 2024 – a 3.1% decrease year-over-year. So in order to boost car sales, in late July, the Chinese government doubled cash incentives for EVs to 20,000 yuan ($2,785) and made them retroactive to April, when they were first announced.


    LRS Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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